Cannell Capital LLC Sells 1,018,400 Shares of San Juan Basin Royalty Trust $SJT

Cannell Capital LLC cut its stake in shares of San Juan Basin Royalty Trust (NYSE:SJT) by 45.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,213,124 shares of the oil and gas producer’s stock after selling 1,018,400 shares during the period. San Juan Basin Royalty Trust comprises approximately 1.1% of Cannell Capital LLC’s holdings, making the stock its 22nd largest position. Cannell Capital LLC owned approximately 2.60% of San Juan Basin Royalty Trust worth $7,327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in shares of San Juan Basin Royalty Trust in the second quarter worth $38,000. Ameriflex Group Inc. purchased a new stake in San Juan Basin Royalty Trust during the third quarter valued at $42,000. Intrepid Family Office LLC bought a new position in San Juan Basin Royalty Trust in the second quarter valued at about $63,000. Pekin Hardy Strauss Inc. purchased a new position in San Juan Basin Royalty Trust in the third quarter worth about $91,000. Finally, Boothbay Fund Management LLC purchased a new position in San Juan Basin Royalty Trust in the third quarter worth about $131,000. 10.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of San Juan Basin Royalty Trust in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

San Juan Basin Royalty Trust Trading Down 1.9%

Shares of San Juan Basin Royalty Trust stock opened at $4.92 on Friday. The company’s fifty day simple moving average is $5.59 and its 200-day simple moving average is $5.72. San Juan Basin Royalty Trust has a 1-year low of $4.55 and a 1-year high of $7.22.

San Juan Basin Royalty Trust Profile

San Juan Basin Royalty Trust (NYSE: SJT) is a statutory trust that holds overriding royalty interests in oil and natural gas properties located in the San Juan Basin of New Mexico and Colorado. As a passive royalty trust, it does not operate any wells or fields directly. Instead, the trust receives revenue from the sale of hydrocarbons produced on its acreage, then distributes this income to unitholders on a monthly basis.

The trust’s income is derived primarily from natural gas production, along with associated natural gas liquids and a smaller volume of crude oil.